REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,995,000
Est. payment /mo
New
1960 S Sherbourne DR Los Angeles, CA 90034
13 Beds
12 Baths
7,260 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,260 sqft
Price per Sqft $412
MLS Listing ID 26101892
Bedrooms 13
HOA Y/N No
Year Built 1961
Lot Size 6,856 Sqft
Property Description
We are very pleased to exclusively present The Sherbourne Residences, an exceptional opportunity to acquire a beautifully remodeled six-unit apartment building in the highly desirable Crestview enclave, adjacent to the exclusive Beverlywood neighborhood. Offered at $2,995,000, this well-maintained and fully renovated property features an outstanding unit mix of five spacious 2-bedroom, 2-bathroom residences and one expansive 4-bedroom, 2.5-bathroom residence. All six units have been fully remodeled and feature updated kitchens with stainless steel appliances, new countertops, new flooring, and new windows, creating bright, modern living spaces with strong tenant appeal. Five of the six residences feature central heating and air conditioning as well as in-unit laundry, and all six units have their own electric vehicle chargers. The front 2+2 residence also offers a private fenced yard, adding a desirable outdoor amenity to an already excellent list of tenant amenities. The property has completed its seismic retrofit, providing an important capital improvement for the next owner.The investment fundamentals are equally compelling, with approximately $246,168 in annual scheduled rental income, $164,439 in annual net operating income, and a 5.5% current cap rate with projected market rents offering a potential annual NOI of $178,736 and nearly a 6% market cap rate. Ideally situated in fantastic Crestview neighborhood, directly adjacent to Beverlywood and conveniently close to Beverly Hills, Century City, and Culver City, the property offers access to premier Westside employment centers, shopping, dining, and entertainment. The surrounding area combines an established residential setting with convenient access to major commercial corridors and everyday amenities. The Residences at Sherbourne represents the rare opportunity to acquire a highly upgraded six unit multifamily asset featuring spacious two and four bedroom residences, modern kitchens and bathrooms, EV charging throughout, a completed seismic retrofit, strong in-place income, all in an exceptional and highly desired central Westside location.
Location
State CA
County Los Angeles
Area C09 - Beverlywood Vicinity
Zoning LARD2
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher, Disposal, Microwave, Oven, Range Hood
Laundry Stacked
Exterior
Parking Features Attached Carport
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4302025019
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Standard
Listed by Dana Brody Dana Brody #01429001
NEARBY SCHOOLS & PROPERTIES